Finance Advisory Committee - 15 May 2025 2:00 PM

Key decisions

• March 2025 quarterly budget review recommended for adoption
  The committee recommended that Council authorise the listed budget variations in the 31 March 2025 quarterly review of the 2024/25 budget, with no movement to the General Fund estimated unrestricted cash result, a $1.093 million decrease in General Fund reserves, a $495,000 increase in Water Fund reserves, and a $948,200 increase in Sewerage Fund reserves.
  This affects Council’s financial position and how funds are allocated across general services, water and sewer infrastructure.
• Revised unrestricted cash surplus endorsed
  The committee recommended that Council adopt a revised General Fund estimated unrestricted cash surplus of $400,000 for the 2024/25 financial year as at 31 March 2025.
  This indicates the current budget buffer available for general council operations and financial management.

Important topics

• 2025-2035 Long-Term Financial Plan
  A report on the 2025-2035 Long-Term Financial Plan was listed for information only, with no decision recorded in the extracted text.
  The long-term plan shapes Council’s future financial capacity and can influence future rates, services and capital works.

Resident impacts

• Council’s quarterly budget settings were updated for the 2024/25 financial year.
• General Fund reserves are projected to decrease by $1.093 million.
• Water Fund reserves are projected to increase by $495,000.
• Sewerage Fund reserves are projected to increase by $948,200.
• The revised General Fund estimated unrestricted cash surplus is $400,000 as at 31 March 2025.

Places affected

• Byron Shire (local government area)
  Council-wide budget and long-term financial planning decisions apply across the shire.
• Mullumbimby (town)
  The meeting was held in Mullumbimby at the Conference Room, Station Street.
• Station Street, Mullumbimby (facility/location)
  Meeting venue location named in the minutes.

Next steps

• Council to consider the committee recommendation to authorise the 31 March 2025 budget variations and adopt the revised unrestricted cash surplus.
  At a subsequent Council meeting
• Long-Term Financial Plan remains noted as an information item with no formal decision recorded in this extract.
  Not specified

Extracted minutes text

Minutes of Meeting Finance Advisory Committee Meeting Venue Conference Room, Station Street, Mullumbimby Date Thursday, 15 May 2025 Time 2:00 PM BYRON SHIRE COUNCIL FINANCE ADVISORY COMMITTEE MEETING MINUTES 15 MAY 2025 F A C F i n a n c e A d v i s o r y C o m m i t t e e M e e t i n gp a g e 3 Minutes of the Finance Advisory Committee Meeting held on Thursday, 15 May 2025 File No: I2025/715 PRESENT: Councillors: Cr S Ndiaye (joined meeting at 2:40pm) Present Cr J Dods Present Cr M Lowe Apology Cr E Hauge Present Cr D Warth Present Staff: Mark Arnold (General Manager) Present Esmeralda Davis (Director Corporate and Community Services) Present Phil Holloway (Director Infrastructure Services...